Reform to boost not-for-profits

Monday, May 19, 2014

One of the new points in the draft amendments to the 2005 Law on Enterprises was the introduction of the concept of “social enterprise”. Can you elaborate on this new concept?

In other countries, especially in the USA and the United Kingdom, the concept “social enterprise” or non-profit organisation, is very popular among the people.

That concept has been adopted by some Asian countries as “Social Enterprise”. The main difference between social enterprises and other enterprises is that their objective is not-for-profit, that is, dedicated to causes such as the eradication of hunger and poverty, environmental conservation and supporting vulnerable groups in society.

In Viet Nam, there have been more than 200 such enterprises operating in Ho Chi Minh City and Ha Noi, over the past few years. Their activities mainly focus on education, health care and environmental protection.

Source: Vietnam Net (link opens in a new window)

Categories
Entrepreneurship
Tags
nonprofit, social enterprise